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Meme cryptos have done very well in the last few months. Micro-cap meme tokens on many chains are gradually gaining ground. However, this time we see memecoins performing well on many alternative chains and they have been driving most of the excitement in the crypto space recently.
I believe the meme rally can continue as long as large cap cryptos remain quiet and utility projects continue to slide lower. Crypto traders go where the money is, and memecoins offer both money and thrills.
However, you should be very careful with these cryptos. You will probably lose money and see memecoins as nothing more than lottery tickets. Do your own research and only throw “fun money” into these cryptos if you are mindful of the risks. Let’s take a look!
Banano (BAN-USD)
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banana (BAN USD) is a memecoin with the most “utility” I’ve ever seen. This crypto project is a fork of Nano (XNO-USD). Similar to Nano, Banano has a peer-to-peer blockchain model that allows completely free transactions. These transactions are very fast and theoretically infinitely scalable with very little performance overhead.
However, the downside is that you don’t have smart contracts or anything flashy other than transactions. Banano is also not listed on many major exchanges, although there is an active Reddit community that regularly pushes for listings. By “folding” you can get more bananas. Basically, you can give your computing power to the healthcare industry for more bananas, which I think makes it very useful compared to most meme cryptos.
This is a memecoin after all, so I won’t go into too much detail about its utility. The price is currently at historic levels with one Market cap of just $8 millionSo I think there is very good upside potential here.
Trump Mania (TMANIA-USD)
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Trump mania (TMANIA-USD) is much riskier than banana. This is a new project that has seen explosive growth recently, but has cooled down overall. However, I think there are some catalysts that can add fuel to the fire in the future.
I’ll try not to get political, but Trump will be convicted in July. This could provide a significant boost to this cryptocurrency as any harsh sentence would surpass the publicity Trump received during his sentencing.
Additionally, polls currently show that Trump is currently ahead, and if we see a flip in many key battleground states like we saw last time, there is a good chance he will win. Of course, this cryptocurrency could capitalize on this if it doesn’t die by then.
Hedgehog in the Fog (HIF-USD)
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Hedgehog in the fog (HIF USD) is a new hyped memecoin TON (TON USD). In less than a week after launching, HIF has become the largest meme community in the entire TON ecosystem, having seen significant growth in recent months. Memecoins on this chain could also see a lot of hype in the future. This project is very new and has already been listed on a major stock exchange: MEXC.
In addition, HIF is now the 2nd pool on TON, only NOT is ahead. Therefore, they have a fairly large marketing budget that could potentially allow HIF to take off, especially with the significant KOL support they are receiving Coach K Crypto.
I think there will be more listings to come as it is the same market maker as Beer coin (BEER USD). Buy the crypto early at one Market cap of $4 million leaves room for significant upward movements in the coming weeks. Beercoin temporarily reached a market capitalization of over 300 million US dollars.
At the time of publication, Omor Ibne Ehsan did not hold, directly or indirectly, any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com’s publication policies.